In addition to an employees salary, a company typically spends 33% of the salary on employee benefits. The company is looking to hire three...

Question

In addition to an employees salary, a company typically spends 33% of the salary on employee benefits. The company is looking to hire three new employees and estimates 52,000 for each in annual salary. Please estimate how much the company will spend on these three new employees.

Answer 1

Each employee has a salary of $52000.  But the company pays benefits too.

The cost of each employee would be:

$52000+0.33($52000)=$69160

Total cost for the new employees:

3x$69160=$207,480.